The Marin County Grand Jury released a report on June 7 on the county's public pension systems. Read the full report at right.
The report comes in the wake of concerns about unfunded pension liability and health costs. Earlier in May,
According to the Grand Jury report, the Marin County Employees Retirement Association's (MCERA) assets declined by 25.5 percent during the 2008-09 financial crisis. This has caused employer costs to skyrocket. The report specifically calls out San Rafael as having nearly 50 percent of its payroll directed towards pension costs.
The report recommends the county reaffirm its commitment to pension reform and work with the legislature towards meaningful change. It also recommends that MCERA releases more information about its portfolio performance.